WASHINGTON – U.S. International Development Finance Corporation (DFC) today began a 30-day public notice and comment period on a proposed change to the agency’s Environmental and Social Policy and Procedures that would enable the consideration of support of nuclear power projects and aligns the definition of renewable energy with the United States Energy Information Administration's (EIA) definition.
The proposed change would remove DFC’s legacy prohibition on support of nuclear power projects. Modernizing DFC’s policy to offer financing for nuclear projects supports the agency’s development mandate, bolsters U.S. foreign policy, and recognizes advances in technology which could make nuclear energy particularly impactful in emerging markets. For example, advanced nuclear technologies under development and deployment in the United States, including small modular reactors (SMRs) and microreactors, will have significantly lower costs than traditional nuclear power plants, and may be well suited for developing countries. The proposed change could help deliver a zero-emission, reliable, and secure power source to developing countries, promoting economic growth and affordable energy access in underserved communities. This change could also offer an alternative to the financing of authoritarian regimes while advancing U.S. nonproliferation safeguards and supporting U.S. nuclear competitiveness.
This proposed change would implement the recommendation made in an April 2020 report issued by the U.S. Nuclear Fuel Working Group, an interagency initiative to review and modernize U.S. nuclear energy policy. The public comment period follows an internal review and consultation with DFC’s Board of Directors as well as external engagement with stakeholders representing Congress, peer U.S. Government agencies, NGOs, and the private sector.
Visit DFC’s website to read more about the proposed change or provide a comment.
U.S. International Development Finance Corporation (DFC) is America’s development bank. DFC partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, critical infrastructure, and technology. DFC also provides financing for small businesses and women entrepreneurs in order to create jobs in emerging markets. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.